Dear Reader,
Although it is entirely possible that a short lived bounce may happen at the lower bound of this symmetrical wedge , please rest assured that once this bound has been breached - a rabid selloff will ensue.
I've set my sights on a final target of about $3500.
Please consider long and short positions as a guide to market sentiment:
Although it is entirely possible that a short lived bounce may happen at the lower bound of this symmetrical wedge , please rest assured that once this bound has been breached - a rabid selloff will ensue.
I've set my sights on a final target of about $3500.
Please consider long and short positions as a guide to market sentiment:
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This is the sort of movement I was expecting around $6900 ..
Let's see if this play works out
Let's see if this play works out
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Ready ?
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If we don't drop from here, it means another round of sideways movements ...
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This is not a TA principal, just an observation ...
These sideways movements, seem to have the effect of resetting momentum indicators. I mean to say that momentum indicators call the bottom, but then price moves in this sideways fashion and causing the momentum indicators to shift upwards - as if an impulse wave were taking place.
Stated in simple terms, we are in the Bermuda Triangle and the compass just spins in a circle. All we have to go on is the study of similar, previous price iterations and the EW rules of complex corrective patterns.
These sideways movements, seem to have the effect of resetting momentum indicators. I mean to say that momentum indicators call the bottom, but then price moves in this sideways fashion and causing the momentum indicators to shift upwards - as if an impulse wave were taking place.
Stated in simple terms, we are in the Bermuda Triangle and the compass just spins in a circle. All we have to go on is the study of similar, previous price iterations and the EW rules of complex corrective patterns.
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The market may have revealed its hand. Combo correction wave .. almost over!
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Finally moved on from the triangle ...
There is an alternative wave count which requires a bounce at $6900, which was brought to my attention. I'll present that in a separate idea.
There is an alternative wave count which requires a bounce at $6900, which was brought to my attention. I'll present that in a separate idea.
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Short positions on the rise. Longs are reducing.
It always comes down to the same thing .. pump and dump .. or dump and then pump. It is the nature of the crypto markets.